While you're looking at job ads, it would be useful to note how many jobs you see that look interesting reference certifications and which certifications they reference. That should give you a pretty good indication of how beneficial any particular certification is likely to be to you.
Different regions have different attitudes toward certifications. Companies in Silicon Valley, for example, are much less likely to care about certification than companies in the American Midwest which tend to be older and more conservative. Companies new Seattle are more likely to want folks with Microsoft certifications than are companies in Virginia because of the proximity to the Microsoft campus.
Different industries have different attitudes toward certifications. Companies in highly regulated industries tend to care far more about certifications than do companies in lightly regulated industries because regulators tend to look favorably on any sort of credential. The US Department of Defense, for example, has set a bunch of certification targets for DoD employees and contractors that has lead to a lot of people getting a lot of certifications recently.
Different companies have different attitudes toward certifications. Large contracting companies tend to look favorably on certifications because it helps quickly sell you to a client that is looking for a bunch of .Net/ Java/ Oracle developers to start on a project immediately. Companies that are trying to achieve higher levels of partnership with a chosen vendor often have to ensure that they have a certain number of certified developers so they'll often be interested in hiring certified candidates.
If you look at the sort of jobs you see being offered in your area for whatever industry and type of company you're interested in and see that a number of them are mentioning in their ads that they're interested in the MCSD certification, it may be worth spending some time getting that certification. On the other hand, if you're not seeing any certifications mentioned in the job listings that interest you, it's probably not worth going after any certifications at this point.